90% of HBAR Buyers Are Gone — Is Price Breakdown Now the Base Case?
HBAR buying pressure has collapsed by 90% in a month, making a price breakdown the likely base case scenario.Summary
Hedera (HBAR) is entering a risky phase as buying pressure has plummeted by nearly 90% over the last month, evidenced by spot outflows dropping from $26.7 million to $2.4 million between early November and mid-December. This vanishing spot buying, coupled with the price trading within a bearish descending channel and the Money Flow Index (MFI) slipping into oversold territory while trending down, suggests that dips are not being bought. Consequently, a downside price breakdown is now considered the base case scenario rather than a low-probability outcome. If HBAR loses the key support level of $0.106, the next target is $0.095, potentially leading to $0.078. A bullish reversal would require reclaiming resistance near $0.155, which seems unlikely given the current market weakness.
(Source：BeInCrypto)